AML – Anti-Money Laundering

It is KCB Group’s policy to combat money-laundering, terrorism financing, proliferation financing and the financing of any illegal activity by implementing appropriate policies and procedures for effective prevention, detection, control and reporting of possible money laundering and terrorism financing activity. KCB Group holds that no customer or other relationship is worth compromising its commitment to combating money laundering, terrorism financing, and proliferation financing.

KCB Group Operating entities have placed obligations on staff and management to report suspicious activity/transactions and has established the necessary internal reporting procedures. KCB Group Operating entities have also established processes and procedures to identify and verify customers’ identity, and to establish their sources and uses of funds.

Anti-Money Laundering, Combating the Financing of Terrorism and Counter Proliferation Financing (AML/CFT/CPF) compliance standards and policies are established, documented, communicated, and followed in KCB Group to safeguard KCB Group’s reputation by ensuring AML/CFT/CPF compliance in all of the Group’s activities. The policies ensure compliance with all applicable laws, regulatory guidelines, and satisfy KCB Group’s international obligations about combating money laundering and the financing of terrorism.

KCB Group maintains a Customer Acceptance Programme ensure that that all customers are properly identified, and identity verified, and that sufficient information is gathered and recorded in order to permit the operating entity to ‘’know its customers’’ by understanding the nature of business, ownership and control structure of the customer. KCB Group takes care to ensure that it only relates with Financial Institutions and banks that maintain a physical presence and are themselves regulated and supervised on AML/CFT/CPF.

KCB Group operating entities implement all legal requirements in jurisdictions where they operate and comply with UN resolutions and recognized Sanctions and Embargoes relating to the prevention, suppression and disruption of terrorism and proliferation financing. The Group’s Operating entities take appropriate steps not to expose correspondent banking and other international financial partners to undue risk with regard to the Sanctions and Embargoes. A such, KCB Group Operating entities reserve the right to accept or decline any customer relationships and to take appropriate measures to identify parties that may pose any undue risks to the Group.

See this link for the KCB Group detailed AML/CFT/CPF policy statement.